The long upper shadow candle formed yesterday is a shooting star and is a bearish indication. Occuring at 61.8% fibo level proved resistance (shown in red ) increases the bearishness.The resistance at the line joining May 2011 and April 2012 highs, shown in grey is also proving strong resistance.The chart below shows a struggle to stay above the trendline.
Daily stochastics has turned up from oversold zone.Rsi14 ha turned up from the 50 levels showing strength still exists.Looks like 1429 support may hold for the time being for more upsides.The range of 1430-1460 needs to be cleared to set a direction.
follow me on twitter http://twitter.com/#!/lucksr
Happy Trading !!